U.S. long-term inflation expectations fell to the lowest in more than a year in early September, an encouraging sign for the Federal Reserve as it tries to keep views anchored.
Consumers expect prices will climb at an annual rate of 2.8% over the next five to 10 years, the lowest since July 2021, according to a survey from the University of Michigan. They see costs rising 4.6% over the next year, the lowest since last September, data Friday showed.
While fewer consumers mentioned supply shortages and gas prices are falling, other measures of inflation are still accelerating and widespread, such as costs for food and shelter. Consumer prices rose by more than forecast in August, according to data released earlier this week.
